2522 N Glass Ave

[Jason Williams]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $160,000
Cash invested: $32,000

1,500 SF duplex located in Tyler, TX. One side had recently been improved the other side needed some love. Installed new flooring, paint, light fixtures, and plumbing fixtures. Both sides stay leased!

What made you interested in investing in this type of deal?

We wanted to purchase our first duplex.

How did you find this deal and how did you negotiate it?

We used Dawn Davis with Keller Williams in Tyler. Dawn has been a great real estate agent for us these last couple of years. She knows the city very well and knows what kind of deals we are looking for.

How did you finance this deal?

Conventional financing with Manny Deleon from Southside Bank. Southside has great rates and Manny has always been easy to work with.

How did you add value to the deal?

We wanted to cashflow at least $100 per door. The home prices in Tyler combined with the rent rates allowed us to do this.

What was the outcome?

So far, we have a great, cashflowing property and have had no trouble getting each side leased.

Lessons learned? Challenges?

We don't currently live in Tyler, so that's been a little challenging. We live about an hour and a half away. But, we have lots of family in that area and its been good engaging some of them to assist us.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Dawn Davis - Keller Williams Tyler
Manny DeLeon - Southside Bank